My question is regarding a directly acquired vehicle loan from a federal credit union. Is the credit union required to follow NOI protocol as per CA state law, or are they exempt. Ex.: do they have the flexibility to not include my right to a 10-day extension, not list specific reasons for not reinstating the auto loan contract?
Last year, (approx. 9-10 months ago) I defaulted on the loan. It took me a month to bring the account current. In the meantime, the car was stored in the garage of the address provided on the loan contract. I was elsewhere working. A repo man came looking for the car and spoke to my mother who doesn't understand English. The repo man assumed my mom either said the car wasn't there or that she refuses to open the garage. In any case, I was able to bring the acct current and resumed payments in good standing.
Now, the bank is (verbally, not in writing) saying they are choosing to not reinstate because of this. Can they do that?